When the sharing economy and blockchain technology come together, exciting things are on the horizon. Airbnb, a company that needs no further introduction, has acquired most of the ChangeTip team in a rather unexpected move.
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The first thought popping in people’s head leads to thinking Airbnb would start accepting Bitcoin payments all of a sudden, but it is doubtful this will be the case. Changetip is a blockchain startup focused on microtipping, and this level of technology could be useful to Airbnb in a variety of ways.
Although it is not the first time Airbnb is looking at Bitcoin and blockchain startups, there were no concrete acquisition plans just yet. That has come to change now that the company has taken a more serious interest in distributed ledgers, and the staff making this possible for Changetip is of great value to any company looking to venture into the world of blockchain.
Rather than creating their own blockchain solution by joining a consortium or conglomerate, Airbnb is looking to acqui-hire staff with vast experience in the field. One of the possible applications for this technology is sharing user profiles with other companies, and it would make sense to use a distributed ledger for this purpose.
But there is more, as Airbnb has built up a significant database of personal information, reviews, and ratings. Storing that type of information in a centralized database is tempting assailants to breach the security and steal the data. Distributed ledger technology would make that impossible, as it removes the central point of failure.
In the end, it is pointless to speculate as to how the company plans to use the blockchain or for which purpose. The announcement itself is cause for great excitement among the Bitcoin community though, as it brings distributed ledgers one step close to real life implications.
Source: QZ
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